Saturday, April 27, 2024
"IMPORTANT IRAQ NEWS: THE EUROPEAN UNION WELCOMES IRAQ’S APPROVAL OF THE SINGAPORE MEDIATION AGREEMENT" BY MNT GOAT, 27 APRIL
THE EUROPEAN UNION WELCOMES IRAQ’S APPROVAL OF THE SINGAPORE MEDIATION AGREEMENT
The European Union Ambassador to Iraq, Thomas Seiler, welcomed the Iraqi government’s signing of the Singapore Mediation Agreement.
Siler said in a tweet on the X website, “I welcome the Sudanese Prime Minister’s government’s signing of the Singapore Mediation Agreement, which is considered a milestone for resolving commercial disputes, and I am pleased that the technical support provided by the European Union to anti-corruption and international arbitration efforts has been important and effective. I call on Parliament to expedite ratification on the agreement.
He added that this decision would enhance investments and business in Iraq, and facilitate international trade. This indicates the government’s intention to make Iraq an attractive place for investments.
He stressed that the European Union remains committed to providing expertise to the government and the economy.
On April 19, 2024, the United Nations Development Program (UNPD) announced that Iraq had officially signed the Singapore Agreement on Mediation, which is an “important” step towards developing the resolution of commercial disputes in Iraq.
The Singapore Mediation Convention is a standardized and effective framework for international settlement agreements resulting from mediation, which parties conclude to resolve a commercial dispute.
The Singapore Agreement will facilitate international trade by enabling disputing parties to easily enforce and recall settlement agreements across borders. Companies will benefit from mediation as an additional option to litigation and arbitration in resolving cross-border disputes.
" IRAQ GONE LIVE WITH TEMENOS CORE BANKING AND PAYMENTS" BY GOLDILOCKS, 27 APRIL
GOLDILOCKS
"Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments."
National Bank of Iraq and Temenos have partnered together to transition the Iraqi Banks from Legacy Systems to a Unified Core Banking and Payments Platform.
Core Banking is the back-end processing of transactions including deposits, loans, and credit processing.
This integration will streamline operations and accelerate product development for customers across the Capital Bank Group. The Capital Bank Group globally connects Iraqi banking systems.
Temenos digital products are adaptable and scalable that will allow them to work inside an Open Banking System. This new upgrade will allow Iraq to trade with Global Financial Institutions around the world.
© Goldilocks
https://fintech.global/2024/04/25/national-bank-of-iraq-empowers-digital-transformation-with-temenos-core-banking-system/
https://www.hcltech.com/knowledge-library/what-is-core-banking#:~:text=Core%20banking%20can%20be%20defined,deposit%2C%20loan%20and%20credit%20processing.
https://www.temenos.com/news/2024/04/25/national-bank-of-iraq-goes-live-with-temenos-core-banking-and-payments/
Evening News with MarkZ. 04/26/024
"RV UPDATE" BY PATRIOT ROD STEEL, 27 APRIL
PATRIOT ROD STEEL
I’m aware of the Plan, but cautioned against exposure, but now that it’s leaking…
#PatriotRodSteel
TEXAS SNAKE
Okie had some positive news earlier today, thought we would hear some indication of the new rate when the Premier returned to his country from his visit to the US, the banker is assisting his hospitalized wife in CA so very little news from him so I guess we wait for FOREX to open, but again sports fans we appear to be very close, so say your prayers tonight.
This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in. Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities. Those areas being the IMF, FOREX, WTO, etc, etc.
The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency. The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.
Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window. Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close. GOD Bless
Texas Snake, [04/22/2024, 10:25:30 p. m.]:
About 10 more minutes then I need to close
Will try to illistrate that tomorrow
Yes he uses a CBI Debit card to purchase items in Beeville and he discovered the exchange rate on a recent purchase equaled $3.90 US for his Dinar value up substantially from before the in country RV
Well folks will come back with anything new GOD Bless
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-texas-snake-24-april.html
"IMPORTANT IRAQ NEWS:ECONOMIST: TRAVELERS’ DOLLARS ARE LEAKING INTO THE PARALLEL MARKET…AND THIS IS WHAT THE CENTRAL BANK SHOULD DO" BY MNT GOAT, 27 APRIL
ECONOMIST: TRAVELERS’ DOLLARS ARE LEAKING INTO THE PARALLEL MARKET…AND THIS IS WHAT THE CENTRAL BANK SHOULD DO
The economic expert, Safwan Qusay, revealed the leakage of travelers’ dollars to the parallel market.
Qusay said {to Al-Furat News} that: “The current policy of the Central Bank of Iraq goes towards auditing the cash dollar, which was marred by many failures in the first periods, especially its leakage through travelers to the irregular market, and this issue needs a new and clear mechanism.”
He added, “It is assumed that travelers are dealt with through tourism and airline companies, and the travel ticket is not allowed to be canceled unless the traveler returns the amount he purchased from the exchange outlets or banks.”
Qusay stressed, “This measure will restore confidence in the cash dollar and the possibility of facilitating the mission of real tourists and filling the gaps that accompanied the process of establishing the electronic platform for the cash sale of foreign currencies.”
He stated that “the Central Bank will not hesitate to provide the dollar to those entitled to it, whether at the level of Hajj or other windows,” noting that “the Central Bank’s emphasis on procedures for granting citizens the cash dollar ensures that it reaches those who need it.”
Qusay added, “The Central Bank’s official sales during the previous 10 days rose to $270 million per day, which is an indication of the activation of the electronic platform,” adding, “The more we reduce imports and analyze the irregular demand for the dollar, the more stable the dollar’s exchange rate will be.”
Meanwhile, travelers expressed their surprise at the Central Bank’s decisions to prevent government banks from selling dollars to travelers.
Travelers said, via {Al-Furat News}: “We are surprised by the Central Bank’s decisions to prevent government banks from selling the dollar to travelers and monopolizing it only with financial transfer and exchange companies.”
Travelers called on Parliament and members of the Parliamentary Finance Committee to “intervene and solve the problem and allow government banks to carry out the process of selling the dollar, especially in conjunction with the delegation of pilgrims to the Holy House of God, and they need to buy the dollar at the official price.”